Trump's latest tariff proposal rips through Asian stock markets

Nikkei falls nearly 2% as carmakers and exporters suffer

20241126 Asia stock and trump

Donald Trump's latest tariff proposal surprised investors who had held high hopes that Asian markets would mirror the strong trend in U.S. stocks. (Nikkei montage/Source photos by Mayumi Tsumita and Reuters)

Nikkei staff writers

TOKYO -- U.S. President-elect Donald Trump's latest proposal to impose a 25% tariff on all products from Mexico and Canada and an additional 10% tariff on goods from China caused stock market jitters in Asia.

In Japan, the benchmark Nikkei Stock Average fell to 38,020.08 at one point on Tuesday, down 760.06, or 1.96%, from the previous day's closing. Carmakers and exporters led the fall. The average ended the trading session down 0.9%.

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